LONDON - The chief executive of British Airways owner IAG ruled out bidding for Thomas Cook’s airline unit on Friday, a day after rival Virgin Atlantic was reported to be interested in part of the business.
Lufthansa and private equity fund Indigo Partners are seen among the front-runners for Thomas Cook’s airlines after the firm put it up for sale in February, to raise cash after a string of profit warnings in 2018. Virgin Atlantic has put in a preliminary offer for the tour operator’s UK long-haul business, Sky News reported on Thursday. Thomas Cook and Virgin Atlantic both declined to comment on the report.
Indigo Partners is also a likely suitor for Thomas Cook’s airline business, sources said last week, adding that the deadline for initial bids was on Tuesday earlier this week.